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Battery Minerals scoping study pegs 55,000 t/y graphite output at Balama Central

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Battery Minerals scoping study pegs 55,000 t/y graphite output at Balama Central

Battery Minerals Ltd.'s scoping study at its Balama Central graphite project in Mozambique estimated that the project has the potential to deliver strong operating cash flow over a long period.

The study pegged a 10-year mine life and annual production of 55,000 tonnes per annum of graphite flake concentrate, the company said March 1.

Capital expenditure is estimated at US$50.1 million and operating expenditure at US$372.05 per tonne. The payback period is expected to be under 1.5 years. The study used US$1,221 freight-on-board per tonne as the basket price.

The company will now move toward a feasibility study, including environmental and mining concession applications, which is expected to be completed by the middle of the year.

In mid-December 2017, Battery Minerals signed a three-year binding agreement to sell up to 11,000 tonnes of graphite concentrate per year to Urbix Resources LLC, starting in 2019.